Existing law generally prohibits an insurer from canceling an insurance policy, except on certain grounds, before the expiration of the agreed upon term or 1 year from the effective date of the policy or renewal, whichever occurs first, if the policy has been in effect for at least 70 days or has been renewed. (NRS 687B.320) Section 1 of this bill reduces from 70 days to 30 days the period for which a policy of homeowners' insurance must have been in effect before that prohibition applies. Section 2 of this bill provides that the amendatory provisions of this bill apply to a policy of homeowners' insurance issued or renewed on or after October 1, 2027, which is the effective date of this bill.

Statutes affected:
BDR: 687B.320